NetRatings Announces First Quarter 2007 Financial Results
Market Wire, May, 2007
NetRatings, Inc. (NASDAQ: NTRT), a global leader in Internet media and market research, today announced financial results for the first quarter ended March 31, 2007.
NetRatings reported revenues of $22 million for the first quarter of 2007, a 20 percent increase over revenues of $18.3 million in the first quarter of 2006.
Net income for the first quarter of 2007 was $193,000, or $0.01 per share, on approximately 35.4 million shares. This compares with a net loss of ($255,000), or ($0.01) per share, in the first quarter of 2006, on approximately 34.7 million shares. During the first quarter of 2007, NetRatings recorded $1.9 million in acquisition expenses related to its planned merger with The Nielsen Company B.V.
For the first quarter of 2007, on a pro forma EBITDA basis (a non-GAAP measure that reflects net income/loss excluding interest income/expense, taxes, depreciation, amortization of intangibles and stock-based compensation, as well as acquisition-related expenses and cumulative effect of change in accounting principles), NetRatings earned $3.7 million, or $0.11 per share, compared to pro forma EBITDA income in the first quarter of 2006 of $1 million, or $0.03 per share. A complete reconciliation of GAAP results to pro forma EBITDA results may be found in the accompanying financial tables and footnote.
Merger Agreement
On Feb. 5, 2007, NetRatings announced that it had signed a definitive merger agreement pursuant to which The Nielsen Company and its subsidiaries will acquire the outstanding publicly held minority interest in NetRatings for $21.00 in cash per share. Nielsen beneficially owns approximately 60 percent of the company's currently outstanding shares. NetRatings' board of directors unanimously adopted and approved the merger agreement following the unanimous recommendation of a special committee of NetRatings' board of directors comprised solely of independent directors. The merger is expected to be completed in the second quarter of 2007, subject to customary conditions and approvals. The exact timing is dependent on the review and clearance of necessary filings with the Securities and Exchange Commission. NetRatings will not hold a conference call or webcast regarding its first quarter results.
About NetRatings
NetRatings, Inc. (NASDAQ: NTRT) delivers leading Internet media and market research solutions, marketed globally under the Nielsen//NetRatings brand. With high quality, technology-driven products and services, Nielsen//NetRatings enables clients to make informed business decisions regarding their online strategies. The Nielsen//NetRatings product portfolio includes panel-based and site-centric Internet audience measurement services, online advertising intelligence, user lifestyle, demographic and product brand preferences data, Internet reach and frequency planning tools, and custom data, research and analysis. For more information, visit www.nielsen-netratings.com
Safe Harbor Statement
This news release contains "forward-looking statements." Such statements include, but are not limited to, statements relating to anticipated financial and operating results, the companies' plans, objectives, expectations and intentions and other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "should," "may," and other similar expressions. Such statements are based upon the current beliefs and expectations of Nielsen's and NetRatings' management and involve a number of significant risks and uncertainties. Actual results may differ materially from the results anticipated in these forward-looking statements. The following factors, among others, could cause or contribute to such material differences: change in general economic conditions; the performance of financial markets and interest rates; the ability to obtain governmental approvals of the merger transaction or to satisfy other conditions to the merger transaction on the proposed terms and schedule; increased competition and NetRatings' business and financial results. Information about potential factors that may affect NetRatings' business and financial results is included in its annual report on Form 10-K for the fiscal year ended Dec. 31, 2006 and its quarterly reports on Form 10-Q, including, without limitation, under the captions "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors." Each of these documents is on file with the SEC and is available free of charge at the SEC's Internet site ( http://www.sec.gov ). Readers of this press release are referred to such filings. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date of this news release or the date of the documents incorporated by reference in this news release.
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- LIFO vs. FIFO: a return to the basics



